SVB Wealth LLC Lowers Holdings in Tyler Technologies, Inc. (NYSE:TYL)

SVB Wealth LLC decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 15.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,535 shares of the technology company’s stock after selling 2,389 shares during the quarter. SVB Wealth LLC’s holdings in Tyler Technologies were worth $5,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TYL. SG Americas Securities LLC boosted its stake in shares of Tyler Technologies by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 4,266 shares of the technology company’s stock valued at $1,784,000 after purchasing an additional 713 shares during the period. HB Wealth Management LLC boosted its stake in shares of Tyler Technologies by 27.2% in the fourth quarter. HB Wealth Management LLC now owns 804 shares of the technology company’s stock valued at $336,000 after purchasing an additional 172 shares during the period. Pacer Advisors Inc. raised its holdings in Tyler Technologies by 13.2% in the fourth quarter. Pacer Advisors Inc. now owns 3,784 shares of the technology company’s stock valued at $1,582,000 after acquiring an additional 442 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Tyler Technologies by 11.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 18,257 shares of the technology company’s stock valued at $7,634,000 after acquiring an additional 1,809 shares in the last quarter. Finally, Trueblood Wealth Management LLC acquired a new stake in Tyler Technologies in the fourth quarter valued at approximately $270,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded down $13.66 on Monday, hitting $576.99. The stock had a trading volume of 479,421 shares, compared to its average volume of 225,796. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $593.50. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market cap of $24.50 billion, a price-to-earnings ratio of 130.54, a P/E/G ratio of 6.06 and a beta of 0.76. The company’s 50 day moving average price is $501.04 and its 200 day moving average price is $458.42.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.53 EPS. On average, research analysts anticipate that Tyler Technologies, Inc. will post 6.5 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 2,671 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $465.03, for a total value of $1,242,095.13. Following the sale, the chief financial officer now directly owns 13,536 shares of the company’s stock, valued at $6,294,646.08. The disclosure for this sale can be found here. Insiders sold a total of 21,241 shares of company stock valued at $10,201,740 in the last ninety days. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday. Loop Capital raised their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. BTIG Research raised their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler raised their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a report on Friday. Finally, Robert W. Baird increased their target price on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $582.31.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.